by: Diane Benjamin
To absolutely no fanfare, Normal issued their financial statements for the year ended March 31, 2014. Bloomington has yet to issue theirs for the year ended April 30, 2014. Tip: If the private sector took this long, investors would be demanding a government investigation!
The notes are the most interesting part. Like this chart on debt: (click to enlarge)
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At least the total debt is going in the right direction, but then Koos has plans to spend more expanding Uptown. As long as you work for government or the building trades, you are probably fine.
Just to prove that Audited Financial Statements really don’t mean a lot, here is the letter the Town auditing firm sent to the Council and Mayor:
That’s still a heck-of-a-lot-a-debt for about 6-8 blocks of a downtown rehab. It’s crazy!
Really? Evidently the Normal taxpayers don’t care! I haven’t seen anybody storm City Hall.